Market Wrap / results report

The S&P/ASX 200 retreated to 9,026 points, down 0.61% this Monday, after US President Donald Trump immediately reacted to the Supreme Court striking down some of its tariffs. 

The US President used different executive powers to impose a temporary 15% blanket tariff, compared to 10% previously for Australia. Trump also sounded more hawkish on Iran. 

Locally, the US-dependant tech sector was lower by 4.6%, amid continued worries on AI valuations. Gold headed in the other direction, with Northern Star 3.4% higher. 

Our market also reacted to earnings results. Reece was an outperformer, with a 13.9% share price appreciation despite its first-half net profit falling 20%. But management pointed to signs of a gradual recovery in the ANZ market. 

nib slipped 0.1%, despite the company expecting underlying operating profit to lift in FY26. And ship-builder Austal grew its order book to a record 17.7 billion dollars, however shares dropped 11% lower today.

In the energy space, Ampol shed 2.1% after suffering a 33% decline in statutory profit after tax. The petrol retailer still flagged its Lytton refinery is back in the black. 

The entire energy sector was in focus as the US President threatened petrol-rich Iran with further military involvement. Still, petrol prices edged lower, with a similar reaction from Woodside and Santos. 

Woodside will report tomorrow. Alongside Light & Wonder, AUB Group, ARB and Scentre Group.